The Empirical Research On Chinese Listed Companies Audit Opinion

The information contents of the annual auditor opinions of the listed companies are studied in this dissertation. The reference papers dealing with the auditor opinions, as well as the security supervision published in recent years are reviewed in the first part of the dissertation. In the second part, the distribution properties of the annual auditor opinions in the new supervision environment are statistical analyzed. And the stock markets response to the auditor opinions is also studied with the methods of the cumulative abnormal return and the multielement regression analysis in the last part of the dissertation. The results show that the distribution of the annual auditor opinions of the listed companies is close related to the stock issue policy, the special treatment regulations and the annual report disclosure time. The capital markets have no obvious response to the annual reports of the auditor opinions at the year of 2001.